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dmw--
New Member

I purchased a mobile home with cash. Does this count as buying a new home? What do I do?

 
2 Replies
LinaJ2018
Intuit Alumni

I purchased a mobile home with cash. Does this count as buying a new home? What do I do?

Are you referring to taking deductions for a home?  If you did not pay any mortgage interest, there are no deductions allowed.  Your property taxes would be allowed if you pay that. 

If you pay mortgage interest, per IRS, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities."

VolvoGirl
Level 15

I purchased a mobile home with cash. Does this count as buying a new home? What do I do?

If you didn’t get a mortgage or loan you don’t have any interest to deduct.  But you might have property taxes that are deductible.
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